General Electric Co. may make some money from the unique agreement the company forged with PricewaterhouseCoopers last week.

GE agreed to send more than 600 of its tax professionals to big four accounting firm PwC. The move will reduce costs, and GE will also get a slice of the revenue the deal generates for PwC, GE's finance chief, Jeffrey Bornstein, said in an interview with CFO Journal.

He declined to say how much of the revenue GE will collect.

The five-year agreements begins on April 1, when the GE accountants become employees of PwC. GE will have access to its former accountants, but PwC will be able to use them on projects for other clients.

GE has been cutting costs and sharply reduced the size of its finance arm, in a bid to simplify its sprawling operations. That simplification project reduced the need for such a large in-house tax department, he said. Just laying off staff would have cost the company $50 million, he added, and the company also didn't want to waste the large suite of proprietary accounting technology it had created.

The search for solution led to the "more creative" arrangement with PwC, which will save GE roughly $100 million a year for the duration of the renewable arrangement, he said.

PwC, for its part, could make $1 billion a year in revenue from GE and other clients, said Mark Mendola, PwC’s vice chairman and U.S. managing partner, in an interview with the Wall Street Journal last week.